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Joseph Moore, Bramble & Thomas's controller, has received all the budgets prepared by the various operating...
*Exercise 5-30 Bill Thomas, Marigold & Hill's controller, has received all the budgets prepared by the...
*Exercise 5-30 Bill Thomas, Marigold & Hill's controller, has received all the budgets prepared by the various operating units and is ready to compile the pro-forma financial statements for the first quarter. The company's balance sheet of December 31 is as follows: Cash Accounts Receivable (net) Finished Goods Inventory Raw Materials Inventory Property, Plant & Equipment Accumulated Depreciation Total Assets Accounts Payable Income Tax Payable Common Stock Retained Earnings Total Liabilities & Owners Equity $ 24,000 23,400 19,600 3,024 120,000...
*Exercise 5-30 Bill Thomas, Sunland & Hill's controller, has received all the budgets prepared by the...
*Exercise 5-30 Bill Thomas, Sunland & Hill's controller, has received all the budgets prepared by the various operating units and is ready to compile the pro-forma financial statements for the first quarter. The company's balance sheet of December 31 is as follows: Cash Accounts Receivable (net) Finished Goods Inventory Raw Materials Inventory Property, Plant & Equipment Accumulated Depreciation Total Assets Accounts Payable Income Tax Payable Common Stock Retained Earnings Total Liabilities & Owners Equity $ 33,600 32,760 27,440 4,234 168,000...
On the Balance sheet, how to you calculate for Accumulated Depreciation? Bill Thomas, Oriole &...
On the Balance sheet, how to you calculate for Accumulated Depreciation? Bill Thomas, Oriole & Hill’s controller, has received all the budgets prepared by the various operating units and is ready to compile the pro-forma financial statements for the first quarter. The company’s balance sheet of December 31 is as follows: Cash $ 56,400 Accounts Receivable (net) 54,990 Finished Goods Inventory 46,060 Raw Materials Inventory 7,106 Property, Plant & Equipment 282,000 Accumulated Depreciation (70,500 ) Total Assets $376,056 Accounts Payable...
Create These budgets: -selling and administrative expense budget -cash budget include a schedule of cash collections...
Create These budgets:
-selling and administrative expense budget
-cash budget include a schedule of cash collections and
payments
-finished goods inventory calculation
Then, Create the following schedules, financial statements, and
calculations
A) Pro forma cost of goods manufactured
B) Pro forma Cost of goods sold- both financial and variable
cost basis
C) Pro forma income statement (financial basis)
D) Pro forma balance sheet
E)Pro forma Income statement (variable cost basis)
F) Pro forma statement of retained earnings
G) breakeven analysis:...
The following balances were taken from the books of Bramble Corp. on December 31, 2020. Interest...
The following balances were taken from the books of Bramble Corp. on December 31, 2020. Interest revenue $87.650 Accumulated depreciation equipment $41,650 Cash 52,650 Accumulated depreciation-buildings 29,650 Sales revenue 1,381,650 Notes receivable 156,650 Accounts receivable 151,650 Selling expenses 195,650 Prepaid insurance 21,650 Accounts payable 171,650 Sales returns and allowances 151,650 Bonds payable 101,650 Allowance for doubtful accounts 8,650 Administrative and general expenses 98,650 Sales discounts Accrued liabilities 33,650 46,650 101,650 Land Interest expense 61,650 Equipment 201.650 Notes payable 101.650 Buildings...
Benson Company is a retail company that specializes in selling outdoor camping equipment. The company is considering opening a new store on October 1, year 1. The company president formed a planning committee to prepare a master budget for the first three
RequiredOctober sales are estimated to be $140,000, of which 35 percent will be cash and 65 percent will be credit. The company expects sales to increase at the rate of 20 percent per month. Prepare a sales budget.The company expects to collect 100 percent of the accounts receivable generated by credit sales in the month following the sale. Prepare a schedule of cash receipts.The cost of goods sold is 60 percent of sales. The company desires to maintain a minimum...
Condensed financial data of Bramble Corp. follow. Bramble Corp. Comparative Balance Sheets December 31 Assets 2020...
Condensed financial data of Bramble Corp. follow. Bramble Corp. Comparative Balance Sheets December 31 Assets 2020 Cash $114,700 Accounts receivable 92,400 Inventory 111,400 Prepaid expenses 29,400 Investments 140,900 Equipment 265,600 Accumulated depreciation-equipment (46,300) Total $708,100 2019 $48,900 33,100 101,200 25,500 114,000 241,300 (52,600) $511,400 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $111,500 16,500 114,000 219,000 247.100 $708,100 $67,200 17,200 149.000 175,500 102,500 $511,400 $392,300 Bramble Corp. Income Statement For the Year...
Jacob Long, the controller of Arvada Corporation, is trying to prepare a sales budget for the...
Jacob Long, the controller of Arvada Corporation, is trying to prepare a sales budget for the coming year. The income statements for the last four quarters follow: Sales revenue Cost of goods sold Gross profit Selling & administrative expenses Net income First Quarter $172,000 86,000 86,000 17,200 $ 68,800 Second Quarter $202,000 101.000 101,000 20,200 $ 80,800 Third Quarter $212,000 106,000 106,000 21,200 $ 84,800 Fourth Quarter $262,000 131,000 131,000 26,200 $104,800 Total $848,000 424,000 424,000 84,800 $339,200 Historically, cost...
Jacob Long, the controller of Arvada Corporation, is trying to prepare a sales budget for the...
Jacob Long, the controller of Arvada Corporation, is trying to prepare a sales budget for the coming year. The income statements for the last four quarters follow Sales revenue Cost of goods sold Gross profit Selling & administrative expenses Net income First Quarter $182,000 91,000 91,000 18,200 $ 72,800 Second Quarter $212,069 106,eee 106,000 21,200 $ 84,800 Third Quarter $ 222,000 111,000 111, 22,200 $ 88,800 Fourth Quarter $ 272,000 136,000 136,00 27,200 $108,800 Total $380,000 444,000 444,000 88,888 $355,200...
Jacob Long, the controller of Arvada Corporation, is trying to prepare a sales budget for the...
Jacob Long, the controller of Arvada Corporation, is trying to prepare a sales budget for the coming year. The income statements for the last four quarters follow: First Second Third Fourth Quarter Quarter $229,000 114,500 114,500 22,900 Quarter $219,000 109,500 109,500 21,900 Quarter $279,000 139,500 139,500 27,900 Zotal Sales revenue $189,000 94,500 94,500 18,900 $ 75,600 $916,000 Cost of goods sold Gross profit Selling & administrative expenses 458,000 458,000 91,600 Net income $ 87,600 $366,400 $91,600 $111,600 Historically, cost of...
*Exercise 5-30 Bill Thomas, Marigold & Hill's controller, has received all the budgets prepared by the various operating units and is ready to compile the pro-forma financial statements for the first quarter. The company's balance sheet of December 31 is as follows: Cash Accounts Receivable (net) Finished Goods Inventory Raw Materials Inventory Property, Plant & Equipment Accumulated Depreciation Total Assets Accounts Payable Income Tax Payable Common Stock Retained Earnings Total Liabilities & Owners Equity $ 24,000 23,400 19,600 3,024 120,000...
*Exercise 5-30 Bill Thomas, Sunland & Hill's controller, has received all the budgets prepared by the various operating units and is ready to compile the pro-forma financial statements for the first quarter. The company's balance sheet of December 31 is as follows: Cash Accounts Receivable (net) Finished Goods Inventory Raw Materials Inventory Property, Plant & Equipment Accumulated Depreciation Total Assets Accounts Payable Income Tax Payable Common Stock Retained Earnings Total Liabilities & Owners Equity $ 33,600 32,760 27,440 4,234 168,000...
Create These budgets:
-selling and administrative expense budget
-cash budget include a schedule of cash collections and
payments
-finished goods inventory calculation
Then, Create the following schedules, financial statements, and
calculations
A) Pro forma cost of goods manufactured
B) Pro forma Cost of goods sold- both financial and variable
cost basis
C) Pro forma income statement (financial basis)
D) Pro forma balance sheet
E)Pro forma Income statement (variable cost basis)
F) Pro forma statement of retained earnings
G) breakeven analysis:...
The following balances were taken from the books of Bramble Corp. on December 31, 2020. Interest revenue $87.650 Accumulated depreciation equipment $41,650 Cash 52,650 Accumulated depreciation-buildings 29,650 Sales revenue 1,381,650 Notes receivable 156,650 Accounts receivable 151,650 Selling expenses 195,650 Prepaid insurance 21,650 Accounts payable 171,650 Sales returns and allowances 151,650 Bonds payable 101,650 Allowance for doubtful accounts 8,650 Administrative and general expenses 98,650 Sales discounts Accrued liabilities 33,650 46,650 101,650 Land Interest expense 61,650 Equipment 201.650 Notes payable 101.650 Buildings...
Condensed financial data of Bramble Corp. follow. Bramble Corp. Comparative Balance Sheets December 31 Assets 2020 Cash $114,700 Accounts receivable 92,400 Inventory 111,400 Prepaid expenses 29,400 Investments 140,900 Equipment 265,600 Accumulated depreciation-equipment (46,300) Total $708,100 2019 $48,900 33,100 101,200 25,500 114,000 241,300 (52,600) $511,400 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $111,500 16,500 114,000 219,000 247.100 $708,100 $67,200 17,200 149.000 175,500 102,500 $511,400 $392,300 Bramble Corp. Income Statement For the Year...
Jacob Long, the controller of Arvada Corporation, is trying to prepare a sales budget for the coming year. The income statements for the last four quarters follow: Sales revenue Cost of goods sold Gross profit Selling & administrative expenses Net income First Quarter $172,000 86,000 86,000 17,200 $ 68,800 Second Quarter $202,000 101.000 101,000 20,200 $ 80,800 Third Quarter $212,000 106,000 106,000 21,200 $ 84,800 Fourth Quarter $262,000 131,000 131,000 26,200 $104,800 Total $848,000 424,000 424,000 84,800 $339,200 Historically, cost...
Jacob Long, the controller of Arvada Corporation, is trying to prepare a sales budget for the coming year. The income statements for the last four quarters follow Sales revenue Cost of goods sold Gross profit Selling & administrative expenses Net income First Quarter $182,000 91,000 91,000 18,200 $ 72,800 Second Quarter $212,069 106,eee 106,000 21,200 $ 84,800 Third Quarter $ 222,000 111,000 111, 22,200 $ 88,800 Fourth Quarter $ 272,000 136,000 136,00 27,200 $108,800 Total $380,000 444,000 444,000 88,888 $355,200...
Jacob Long, the controller of Arvada Corporation, is trying to prepare a sales budget for the coming year. The income statements for the last four quarters follow: First Second Third Fourth Quarter Quarter $229,000 114,500 114,500 22,900 Quarter $219,000 109,500 109,500 21,900 Quarter $279,000 139,500 139,500 27,900 Zotal Sales revenue $189,000 94,500 94,500 18,900 $ 75,600 $916,000 Cost of goods sold Gross profit Selling & administrative expenses 458,000 458,000 91,600 Net income $ 87,600 $366,400 $91,600 $111,600 Historically, cost of...
Most questions answered within 3 hours.
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a) summarize the challenges facing New Britain today
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**86 at 40 not 88. please show how got Tr in calculations thank
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